UK Treasury revised draft anti-money laundering regulations to lower the threshold for notification of changes in control to 10%

According to Wu, the British Ministry of Finance issued a draft amendment to anti-money laundering regulations, which put forward stricter requirements for crypto companies. The Financial Conduct Authority will implement a broader "proper candidate" test for company controllers, replacing the current beneficial owner test. Other clauses will reduce the threshold for notification of change of control from 25% to 10%, and any party who acquires 10% or has significant influence or who has significant influence will be required to notify the Financial Conduct Authority. The British Ministry of Finance is soliciting feedback on the draft, with a deadline of September 30, and the regulations will be finalized in early 2026 and submitted to Parliament for deliberation.